Coinbase Snags Major Hedge Fund Customer For Its Coinbase Prime Service

July 25, 2018

 

Coinbase Prime, the institutional trading platform launched by North America’s largest cryptocurrency exchange Coinbase, has racked up a major customer for its services. According to reports, the San Francisco-based exchange has signed a hedge fund with more than $20 billion in assets as a customer. It is also said to be courting other hedge funds in its bid to increase the share of institutional customers in its portfolio. Coinbase Prime is a suite of tools launched by the exchange for institutional customers. These tools include margin financing, OTC block trading, and execution algorithms. The company also launched a custody solution recently aimed at institutional investors. During its launch, the company said it had already signed up ten hedge fund clients and was targeting $5 billion in assets and 100 clients by the end of this year.

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